CIL misses production, off-take targets for April-June quarter

Kolkata, July 1 (IANS) Coal India Ltd (CIL) has missed the first quarter production target of the current fiscal by 6.78 million tonnes (mt) and off-take target by 16.69 mt for the same period, according to provisional data released by the company on Friday.

The miner produced 125.65 mt of coal in April-June quarter of the current fiscal against a target of 132.43 mt, achieving 95 per cent of the production target set for the quarter. However, its production grew by 3.5 percent in the period as compared to 121.33 mt produced in the corresponding period last year.

CIL’s off-take stood at 133.19 mt in the quarter ended June against a target of 149.88 mt. Its off-take grew by only 2.9 percent in the quarter as compared to off-take of 129.48 mt in the year ago period.

June production stood at 42.72 mt while its off-take for the month was at 44.96 mt.

The miner set a target of 598.60 mt of production in the current fiscal. For FY17, the target of off-take of the company was set at 598.61 mt and out of this, 450 mt will be supplied to power sector utilities.

In the last fiscal, the miner had produced 536.51 mt of coal against a target of 550 mt and its off-take was at 532.26 mt.